Stockholders' Equity

3 Months Ended

Mar. 31, 2018

Stockholders' Equity

Stockholders' Equity

Note 8. Stockholders’ Equity

Condensed Consolidated Statement of Changes in Stockholders’ Equity

(in thousands)

									Accumulated
									Other		AXT, Inc				Total
	Preferred		Common		Additional		Accumulated		Comprehensive		Stockholders’		Noncontrolling		Stockholders’
	Stock		Stock		Paid-In Capital		Deficit		Income		Equity		Interests		Equity
Balance as of December 31, 2017	$	3,532	$	39	$	231,679	$	(54,837)	$	3,407	$	183,820	$	4,497	$	188,317
Common stock options exercised		—		—		66		—		—		66		—		66
Stock-based compensation		—		—		467		—		—		467		—		467
Net income		—		—		—		2,875		—		2,875		315		3,190
Other comprehensive income		—		—		—		—		2,439		2,439		260		2,699
Balance as of March 31, 2018	$	3,532	$	39	$	232,212	$	(51,962)	$	5,846	$	189,667	$	5,072	$	194,739

There were no reclassification adjustments from accumulated other comprehensive income for the three months ended March 31, 2018 and 2017.

Stock Repurchase Program

On October 27, 2014, our Board of Directors approved a stock repurchase program pursuant to which we may repurchase up to $5.0 million of our outstanding common stock.  These repurchases can be made from time to time in the open market and are funded from our existing cash balances and cash generated from operations. During 2015, we repurchased approximately 908,000 shares at an average price of $2.52 per share for a total purchase price of approximately $2.3 million under the stock repurchase program.   No shares were repurchased during 2016 and 2017. During the three months ended March 31, 2018, we did not repurchase any shares under the approved stock repurchase program. As of March 31, 2018, approximately $2.7 million remained available for future repurchases under this program. Currently, we do not plan to repurchase additional shares.